Stellantis and National Business League Partner to Build Nation's First Black Supplier Development Program

Rhea-AI Summary

Stellantis has partnered with the National Business League to establish a National Black Supplier Development Program aimed at enhancing opportunities for Black businesses. This initiative seeks to develop over 2.9 million Black suppliers for future contracting and procurement opportunities, emphasizing racial equity in the marketplace. A virtual training portal will facilitate qualification and training, providing resources for entrepreneurship. This program comes in light of the challenges faced by Black businesses during the COVID-19 pandemic, with up to 40% closing permanently in 2020.

Positive

• Partnership with National Business League targets development of 2.9 million Black suppliers.
• Creation of a virtual training portal to qualify and train Black businesses.
• Aims to realize 20-30% of untapped business potential for Black suppliers.

Negative

• COVID-19 pandemic has negatively impacted Black businesses, with 40% closure rate in 2020.
• 95% of Black-owned businesses are primarily solopreneurs with limited capacity for larger contracts.

AUBURN HILLS, Mich., June 17, 2021 /PRNewswire/ --

• Program will develop Black suppliers for future contracting and procurement opportunities and success in a post-pandemic economy
• New online virtual procurement and contracting marketplace will build a bridge between the public and private sectors to create substantive business opportunities for Black suppliers
• Portal will enable the program to qualify, train and develop Black businesses for future contracting opportunities
• Announcement part of 2021 observance of Juneteenth

Stellantis and the National Business League (NBL) have formed a national partnership to develop Black suppliers for future contracting and procurement opportunities in the pursuit of greater racial equity in the marketplace.

The Stellantis-NBL National Black Supplier Development Program will support the development of more than 2.9 million Black businesses around the country and internationally for future opportunities within the federal government and public and private sectors.

Stellantis over the next three years will anchor the development of a virtual training and development portal at the heart of the program, then open the online portal to its suppliers, followed by all Original Equipment Manufacturers, the federal government and other public and private companies throughout various industries and sectors domestic and abroad.

The portal will enable the program to qualify, train and develop Black businesses for future contracting opportunities. Its resource marketplace will also provide access to capital, mentorship and executive coaching, supplier training and development, bid posting, matchmaking, supply chain solutions, talent placement and acquisition and more.

"As a key part of our corporate diversity, inclusion and engagement strategy, Stellantis is excited to partner with the National Business League to ensure that all Black Business Enterprises and suppliers have an equitable and inclusive stake in the global marketplace," said Mark Stewart, COO, Stellantis — North America. "Post-pandemic and in response to rising demands for social and economic justice for all people, finding equitable and impactful ways to engage and empower Black businesses is critical to the sustainable development of Black entrepreneurs and communities."

About 95% of Black-owned businesses today are mainly comprised of solopreneurs — home-based, one-employee enterprises — or are considered micro-businesses. Of these, fewer than 3% are minority or agency certified, and most do not have the capacity, scope and scale to meet the demands of future contracting and procurement opportunities with Fortune 500 companies and the federal government.

In addition, the COVID-19 pandemic has disproportionately affected Black businesses nationally. An estimated 40% of Black-owned businesses closed permanently in 2020, according to CBS News, while the digital divide has created a systemic barrier to entry into the marketplace among Black businesses.

"The upside potential for Black Business Enterprises is immeasurable when the focus is on development, equity and inclusion," said Dr. Kenneth Harris, president and CEO of the National Business League. "This is where we truly start to level the playing field by bringing commerce solutions to the marketplace to solve economic problems."

The online virtual procurement and contracting marketplace is expected to realize 20-30% of the untapped business potential of Black suppliers. The goal is to create sustainable Black businesses that will impact the local and global economies, creating jobs through entrepreneurship and growing the number of Black businesses of all sizes.

"The Stellantis-NBL National Black Supplier Development Program is an idea whose time has come," said Isiah Thomas, chairman and CEO of ISIAH International, LLC. "Equitable access to both international and domestic business opportunities by Black businesses is fundamentally important to the future of our economy and opportunities available to Black people and communities."

National Business League:
The National Business League, which was founded on August 23, 1900, by the legendary Booker T. Washington, is the first and largest nonprofit, non-partisan and non-sectarian Black business and professional trade association. The NBL, celebrating a 120-year legacy, has more than 120,000 members nationwide and 125 plus Fortune 500 Corporate Partners, with regional offices in Atlanta, GA, Detroit, MI, Los Angeles, CA, and Washington, D.C., as well as more than 367 local league chapters across the country. The organization provides access to 2.6 million Black businesses throughout the United States. Visit www.nationalbusinessleague.org, Twitter @theNBL1900, Instagram @NBL1900, and Facebook @theNBL1900.

Stellantis
Stellantis (NYSE: STLA) is one of the world's leading automakers and a mobility provider, guided by a clear vision to offer freedom of movement with distinctive, affordable and reliable mobility solutions. In addition to the Group's rich heritage and broad geographic presence, its greatest strengths lie in its sustainable performance, depth of experience and the wide-ranging talents of employees working around the globe. Stellantis will leverage its broad and iconic brand portfolio, which was founded by visionaries who infused the brands with passion and a competitive spirit that speaks to employees and customers alike. Stellantis aspires to become the greatest, not the biggest, while creating added value for all stakeholders, as well as the communities in which it operates. 

Follow company news and video on:
Company blog: http://blog.stellantisnorthamerica.com
Media website: http://media.stellantisnorthamerica.com
Company website: www.stellantis.com
LinkedIn: https://www.linkedin.com/company/Stellantis
Facebook: https://www.facebook.com/StellantisNA
Instagram: https://www.instagram.com/stellantisna
Twitter: @StellantisNA
YouTube: http://youtube.com/StellantisNA 

 

View original content to download multimedia:http://www.prnewswire.com/news-releases/stellantis-and-national-business-league-partner-to-build-nations-first-black-supplier-development-program-301314645.html

SOURCE Stellantis

FAQ

What is the Stellantis-NBL National Black Supplier Development Program?

It is a partnership aimed at developing Black suppliers for contracting opportunities, focusing on racial equity.

What businesses will benefit from the Stellantis-NBL partnership?

More than 2.9 million Black businesses across the U.S. and internationally.

How will Stellantis support Black businesses under this program?

Through a virtual training and development portal that offers resources for qualification, mentorship, and access to capital.

Why was this program announced now?

It coincides with the observance of Juneteenth and addresses the challenges faced by Black businesses during the pandemic.

What are the goals of the Black Supplier Development Program?

To create sustainable Black businesses and enhance their chances for future contracting opportunities.